$2,599,000
1335 W Taylor Street
Chicago, IL, 60607
Turnkey new construction investment centrally located on the Taylor Street corridor between Illinois Medical District to the West and University of Illinois Chicago to the East. 2019 construction with a desirable unit-mix, modern in-unit amenities and luxury finishes including in-unit laundry, granite countertops, individual HVAC, private balconies, etc. The first floor is leased to a national tenant – Insomnia Cookies – on a new 10-year net lease providing stable, long-term cash flow with annual increases. Value-add potential with increases in rent to reflect recent rental comps in the area, finishing out the rooftop deck and monetizing the basement storage area. All three apartments are large 4BR/2BA units. Low expense ratio with Insomnia responsible for 50% of the property taxes and building insurance. Excellent area tenant base to draw from with UIC (34,000 undergrad and post graduate students – largest university in the Chicago Metro Area) and Illinois Medical District (29,000 employees, 50,000 daily visitors and $3.4 billion in economic opportunity – the largest medical district in North America).
Property Details
Price:
$2,599,000
MLS #:
MRD12053387
Status:
Active Under Contract
Beds:
0
Baths:
0
Address:
1335 W Taylor Street
Type:
Commercial
Subtype:
Apts/Stores
Neighborhood:
CHI – Near West Side
City:
Chicago
Listed Date:
May 10, 2024
State:
IL
Finished Sq Ft:
7,540
Total Sq Ft:
7,540
ZIP:
60607
Year Built:
2019
Schools
Interior
Cooling
Central Air
Exterior
Financial
Tax Year
2022
Taxes
$30,053
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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1335 W Taylor Street
Chicago, IL
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